Bank of Scotland slashed its agency roster from 12 to three this week as part of a public relations overhaul.
The bank has appointed financial services agency Lansons and Scottish-based full-service outfit Beattie Media to replace 11 of its incumbent agencies, including Shandwick International and The Communications Group.
Director of public relations John Greaves said the agencies were appointed after an initial 13-way competitive pitch against the likes of Citigate Dewe Rogerson and Harrison Cowley.
Just one of the incumbent agencies remains on the roster - financial consultancy Brunswick, which has worked for BoS for five years and which Greaves said did not come under the review remit. All other incumbent agencies were invited to repitch.
Greaves said: 'The overall objective was to reduce the number of agencies working for the bank to improve co-ordination and efficiency.
'We weren't looking to cut costs for the sake of it. We wanted to improve return on investment; if we save money, all well and good,' he added.
Lansons has been hired on six-figure fees to handle all PR for BoS's personal banking division, which covers products such as mortgages and loans.
Lansons director Ian Williams will head the account, leading a team of five and reporting to Greaves.
The brief is to raise BoS's profile and promote its personal banking products throughout the UK.
Beattie Media, also on six-figure fees, will look after BoS's corporate and business banking sectors, covering areas such as equity funding and banking services for SMEs.
'We are a market leader in Scotland, but we need to develop that in the whole of the UK. In particular we will be targeting the small business market,' said Greaves.
Beattie Media director Ann-Marie Wilkinson will lead the corporate banking account and director Laurna O'Donnell will head the business banking side.
Greaves said BoS is in the process of recruiting in-house PR directors for the business and corporate banking divisions - positions to which Beattie Media will report.
He added that the bank is also looking for a global head of group-wide internal communications.
All three positions have been created by BoS's PR reshuffle (PR Week, 4 August).